同时，经过公司董事会特别委员会和外部律师的外部审查后，Super micro computer's pre-market trading increased by 13%, with early gains approaching 16%. The company announced it will replace chief financial officer David Weigand and is seeking a new chief compliance officer and general counsel. An external review found no misconduct by the company.
Super micro computer rose 13% in pre-market trading, after rising nearly 16% in the morning, the gain narrowed. The company announced the replacement of chief financial officer David Weigand.
On Monday, December 2, in Eastern Time, Super micro computer stated that they are looking for new chief financial officer, chief compliance officer (CCO) and general counsel. Meanwhile, Kenneth Cheung, former vice president of finance, will become the company's new chief accounting officer.
After external review by a special committee of the board of directors and external attorneys, no improper conduct was found. Specifically, the results of the independent special committee's investigation show that Ernst & Young's resignation and the conclusions mentioned in the resignation letter were not supported by the review.
On November 5th, the company announced that the special committee's preliminary investigation found that the audit committee acted independently, with no evidence of fraud or misconduct by management or the board. The final results of the special committee's investigation support these preliminary findings, and the company is now disclosing the details of the review and the measures recommended by the special committee.
The external review was completed jointly by the board's special committee and more than 50 lawyers from the law firm Cooley LLP, as well as the team from the accounting firm Secretariat Advisors. The board fully adopted the recommendations of this special committee, and the company will not reissue statements regarding the previously released financial estimates.
This year has been turbulent for Super micro computer. The company failed to file its annual financial report before August, and its auditing firm, Ernst & Young, resigned in October due to concerns about the company's governance and transparency. Super Micro Computer is also under investigation by the U.S. Department of Justice, and previously faced a short report from the short-selling institution Hindenburg Research.
